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Technology Stocks : Ballantyne Strong Inc (NYSE Amex: BTN)
BTN 2.580+7.1%Jun 12 9:42 AM EST
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To: Dennis C who wrote (9)5/28/1997 4:42:00 AM
From: Early Bird   of 59
 
From Individual Investor Site:

Majority shareholder selling portion
of stake; Buy (5/27)

ARC International, Ballantyne of
Omaha's majority shareholder, is going to
sell a portion of its stake in a secondary
offering done by Ballantyne. This offering
should not result in any dilution as no new
shares are coming out on the market.
What it will do is to further increase
Ballantyne's float--that is, the number of
shares available to the public. This should
allow more investors to invest in BTN
who might have been scared away by the
stock's potential illiquidity. (As if to
emphasize the liquidity problem, the stock
was down a point on volume of less than
eight thousand shares mid-day.) BTN's
float is now a little less than four million
shares; this offering should bring it over
5.9 million shares.

ARC has been nurturing the company
since 1988. Now that Ballantyne can
stand on its own, ARC and other
shareholders are selling 1.96 million
shares. This will reduce ARC's stake to
29.6% from 50.3%.

We have a call into Ballantyne, so if there
are any other material issues we will let
you know. For the time being we think
that any price drop presents a buying
opportunity; business is great for BTN.

(Posted on 5/27/97 with BTN trading at
$14.63)

BTN Analysis Archive

BTN News Headlines:
05/27 04:38 ARC Intl announcement/update

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